I realized that gambling will drain my account, and the purpose of this business is to make money! I must act in my own best interest. I will only do what is good for me. My main rule was not to leave my wingman, Dan (trading mentor). The day was successful . I took no trades on my own. I did learn that you have to let your winners run. Trades 2 & 3 were exited to early and too much money was left on table. It is a fine balance between making sure you do not lose money and letting the winners run.
Trades 8/25/10:
1) 9:23.12 Top of the channel algo sell. Stopped out .25 higher than Dan said to get out. -$62.50 Good trade
2) 9:35.04 jumped the engulfment. exited to early to make sure not to lose money. +12.50 good trade
3) 9:54.58 Algo buy. exited too soon. +37.50 good trade
4) 10:16.12 Algo sell TOC (top of channel). stopped out. -$62.50
5) 11:02.10 Algo sell TOC. stopped out. Dan called the exit 1/2 point before I let myself get stopped out. -$62.50
6) 1:28.31 Algo Buy around the mean. Was patient and let it run, was not to aggressive trailing my stop. +$175.00!!! A good size winner felt great!!
Summary: +$37.50
Overall: -$287.50
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